The Elevated Studio Inc

Analysis

The Elevated Studio Inc is a registered charity in United States, based in Beacon, NY. It received its IRS tax-exemption ruling in December 2022, 4 years ago. Its declared purposes cover public safety, disaster preparedness and relief, which this site groups under armed forces, emergency and public safety. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Elevated Studio Inc reported income of $161k and spending of $170k, spending 105% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income fell from $343k to $161k (-53%), an average of -14% a year. The sharpest change came in the year to December 2022, when income rose by 65%. Over the whole period it spent 107% of the income it received.

Among 9,128 United States charities whose main cause is armed forces, emergency and public safety and that reported income, The Elevated Studio Inc sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 47th percentile within NY. Charities of a similar size with the same main cause include Triplet Volunteer Fire Departmentinc ($161k), South Toms River First Aid & Rescue Squad Inc ($161k) and Gladys Volunteer Fire Department Incorporated ($161k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 19% and program service revenue 81% of the total. Compensation of current officers, directors and key employees was $55k (32% of expenses). Other salaries and wages came to $79k. At year end it held assets of $12k against liabilities of $8,241, net assets of $3,759. It reported 4 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.